(a) Raw Manufacturing Costs Materials Factory Manufacturing Work in Finished Process Inventory Inventory Cost of Goods Goods Sold Inventory Labor Overhead Beginning balances $17,000 $9,000 $11,000 1. +75,000 2. +$80,000 *3. +$33,000 4. -80,000 +80,000 5. -36,000 +36,000 Ending balances $19,000 $0 -$3,000 $14,000 $8,000 *($6,800+ $8,000+ $9,200+ $9,000 = $33,000) (b) 1. Raw materials used = $17,000+ $75,000-$19,000 = $73,000. 2. Completed jobs transferred to finished goods = $9,000+ $73,000+ ($80,000+ $36,000) - $14,000 = $184,000. 3. Cost of goods sold = $11,000 +$184,000 - $8,000 = $187,000. 4. Overhead overapplied = $3,000 (negative balance in Manufacturing Overhead)